By Emily Nicolle on 8th February 2018
Industry outsiders are starting to get in on the Open Banking action.
Giffgaff, the mobile phone network run by Telefonica, is set to launch its own personal finance banking app targeted towards millennials.
Utilising the latest Open Banking regulations, the Giffgaff Gameplan app will offer users spending insights to help them cut down daily expenditures and save towards defined goals.
The service will also offer a comparison service for alternative credit card providers, car insurance, energy providers and loans, and is expected to go live this summer.
Speaking to its community of users, a spokesperson for Giffgaff said: “We want Gameplan to be your one-stop hub for all things personal finance. For too long, banks have had it their way, and we believe that, with your help, it’s time for you to truly be in control of the way your money works for you.
“Just like we gave the big mobile networks a run for their money, we want you to help us do the same in the financial services world. Not only will gameplan help you save cash, it will give you the transparency we all need to help us run our money on a regular basis.
“And the thing we’re most excited about is that it’s help you set, and achieve your next big goal. Because to be able to reach that goal you need a gamplan; pun intended.”
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.